People's Pilot, Volume 6, Number 7, Rensselaer, Jasper County, 6 August 1896 — THE TRADE REVIEW. [ARTICLE]

THE TRADE REVIEW.

BUSINESS OF THE COUNTRY CONTINUES DULL. Whemt BeUf Exported Very Freely far tbe Season —Little Doing In the Fabric Market, and Prices Low —Iron and Steel Slow. Dun Co.’e Weekly Review of Trade 3ays: “Business conditions have clearly improved, though .business has not. It is now the torpid season, and better prospects have little effect as yet. The signing of a compact to control foreign exchange by a syndicate, pledging the use of $750,000,000 for that purpose, may render it unnecessary to use the gold, and has given some stocks a slight advance. Gold exports have been stopped, and foreign trade is more promising of an early demand for our product. The prospects for large crops of cotton and corn are still excellent. “Two important labor contests have been settled between iron mills and puddlers, one the Brown hoisting works, at Cleveland, which • recently caused the troops to be called out. But the strike of garment workers has extended, although appearing near end. “None supposes that the exchange syndicate is interested to do more than bridge over a period in which merchandise exports has been light. But exchange in foreign trade is already in the helpful direction, domestic exports from New York having for four weeks been 17 per cent larger, while imports have been 20 per cent smaller than last year, and last week 26 per cent smaller. “Wheat is already going out with more freedom than is usual for the season, and Atlantic exports have been 1,001,119 bushels, flour included, for the week, against 900,248 last year, and for four weeks 6,564,266 bushels, against 3,422,421 last year. Western receipts are also remarkably heavy, in four weeks 13,646,736 bushels, against 2,856,445 last year, and if part is old wheat so much the greater must have been the surplus from previous crops. In any event, the free movements show that the scarcity is due to the Western farmer and holders. The market, in spite of reports indicating smaller foreign supply, reacted after a rise of a little over 1 cent, closing % cent higher for the week. “Lower rail rates helped corn to make a new record at 30.12 cents, and prospects are generally favorable. Cotton advanced by quarters on reports of injury, but there are really few who expect less than a large yield. “Several weeks of extremely slack demand for cotton orders have brought further reduction in print cloths to 2.44 cents, instead of the advance expected in consequence of the stoppage of 4,000.000 spindles, but prints are selling more freely, while brown and bleachwl goods are dull, except for export kinds. The woolen mills do not get many orders for lightweights, opening 5 to ~ x h per cent lower in price than lasc jeer, and sales of wool now reported are less than a quarter of a full week's consumption; for the week only 1,619,700 pounds, against 6,072,450 last year, and for five weeks past only 11,547,131 pounds, against 50,851,314 last year, and 38,557,150 in 1892.

“Leather is stubbornly held without change in prices, and in some grades is really scarce, although manufacturers are buying <jnly for actual needs, but hides have turned downward sharply at Chicago, declining 5 per cent for the week with heavy accumulations. “The iron industry is helped but little by the settlement which gives puddlers of the Ohio! region 50 cents advance in wages, because the demand is so light that few mills can run, and the association price is 1.2 cents, while steel bars are now being sold at less than 1.05. There is some difference between the tin soldier McKinley and the other Napoleon famed in history. It will be more noticeable after election.